Thursday, June 20, 2024

The revenue of Art Dubai 2023 is 142.9 million dirhams

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The strong growth of creative economic activity in Dubai and high indicators of its positive impact on the overall economic performance of the emirate and the opportunities it continues to provide to the private sector confirm Art Dubai, the leading global exhibition in the Middle East and under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. Global South announced that it is taking place under The income of the 2023 edition of the exhibition, which was held last March 1-5, was 142.9 million dirhams, which achieved the highest economic income for the pioneering creative event in its history and since its inception in 2007.

This comes in a recently published study by IPSOS, a leading marketing consultancy and research firm, which aims to measure the economic impact of the fair, which will span over 130 contemporary and modern galleries during its five-day period. From more than 40 countries, and within the largest participation in the exhibition history of representatives of regional and global creative institutions.

The survey revealed that the event had a clear impact on the hospitality industry over the five days in Dubai. Art lovers and connoisseurs took great part in acquiring unique and special creations. Art, from within the country or from outside, according to the study, the exhibition contributed to reach about 23.5 thousand hotel nights during its cumulative period.

The results of the latest study represent a sustainable economic impact of more than 50% compared to the latest published data, which tracked a revenue of 92 million dirhams for the event edition in 2019, as this increase comes in a gesture. With the ambitious goals of the Dubai Creative Economy Strategy, it aims to make Dubai a destination of choice for creatives from around the world and the capital of the creative economy by 2026, and has a key role in Dubai’s growing status. A hub for cultural mobility in the region and a global destination for creative economy activities and businesses.

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The 2024 edition of the “Art Dubai” exhibition is scheduled to take place from March 1 to 3 in Madinah Jumeirah, with two days on February 28 and 29 dedicated to major collectors. The exhibition is organized in collaboration with ARM. Art Holding is sponsored by Julius Baer, ​​partner of the “Art Dubai” exhibition, a leading real estate developer and partner of Dubai Culture and Arts Authority (Dubai Culture), a strategic partner of the exhibition.

All inclusive creative movement

Her Excellency Hala Badri, Director General of the Culture and Arts Authority in Dubai, “Dubai Culture”, pointed out that the emirate is experiencing an extensive creative and cultural movement, which has contributed to strengthening Dubai’s cultural vision. A global hub for culture, an incubator for creativity and a meeting place for talent.

His Excellency said: “The Authority is keen to support and strengthen the culture and arts sector in Dubai by creating creative platforms that allow artists to express themselves and by adopting innovative methods to attract talent and those interested in the arts. Expanding the scale of their ideas and their creative contributions enriching Dubai’s art scene.” The remarkable success achieved by the 16th edition of the fair reflects Dubai’s global status as an important archive for prestigious art and creative events.

Badri added: “Throughout its history, Art Dubai has been able to demonstrate its presence and strengthen its position on the local and international art agenda, and has contributed to cementing Dubai’s appeal as one of the most important cities for fostering creativity and producing art. Its cultural, social and economic diversity art galleries Contribute to promoting the growth of the cultural and creative industries, which are one of the tributaries of Dubai’s economic system.

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Art Dubai Executive Director Benedetta Keon said: “The survey’s strong results and its positive economic impact are clear evidence of Dubai’s continued growth and development as one of the major cultural centers in the art world and as a leading cultural capital. We are delighted with the achievement of the 2023 edition of Global South, Art Dubai. This is the biggest and most important success of the exhibition, and we will work as an extension for the next session next year. This success, and a new addition that consolidates the special status that the event has achieved over the years since its inception in 2007, as the premier destination for art lovers and lovers of its acquisition, and as a tributary. Supporting the development of the creative economy in Dubai, the UAE and the region in general.

Art Dubai is one of the most important events on the cultural agenda of the Emirate of Dubai, and at the regional level in general. The event has several categories for art: contemporary, modern and digital, annual artist commissions, programs for art collectors and its educational program throughout the year.

Bill Dittman
Bill Dittman
"Freelance alcohol fan. Coffee maven. Musicaholic. Food junkie. Extreme web expert. Communicator."

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